Rum business changes private equity hands

Rum supplier E&A Scheer and its subsidiary the Main Rum Company have switched private investor owners from the Riverside Company to Platinum Equity.

With origins dating back to 1712, E&A Scheer specialises in sourcing and selling rum blends and rare, aged rums in cask to industries including foodservice.

Riverside Europe's partner Damien Gaudin noted that since the investment firm bought E&A Scheer in February 2019, it has focused on growing the rum business' top line by "enlarging and internationalising the customer base, as well as improving profitability through an increased focus on ultra-premium rum categories such as rare and aged casks".

He added: "As a result, the company more than doubled its EBITDA during Riverside's ownership. In addition to the strong sales generated from the Europe, Middle East and Africa region, the company has strengthened its presence in North America, laying the foundations for future growth."

Under Riverside's ownership, E&A Scheer also more than doubled its workforce, moved into a new headquarters and created customer experience centres in Amsterdam and at the Main Rum Company in Liverpool.

Maarten Obbink, chief executive officer of E&A Scheer, commented: "It has been a real pleasure to work alongside Riverside to further grow our unique business. It is great to see how rum is conquering the world of spirits globally and how our company is able to support brands to grow the category.

"Based on a clearly defined strategy, including further geographical expansion and with a distinctive role as an ESG partner, the company is looking forward to continuing its growth path in close cooperation with its new investor, Platinum Equity."